MITI Sees Great Potential In POIC

The International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the Palm Oil Industrial Cluster (POIC Lahad Datu) has great potential in the downstream industry due to its strategic location.

Situated at the centre of Brunei, Indonesia, Malaysia, the Philippines-East Asean Growth Area, the facility was also supported by a deep-water port, he said.

“POIC Lahad Datu is strategically located as raw materials are in abundance and it is also close to China, Japan, Indonesia and the Philippines market,” he told reporters after opening the Silam Umno division meeting on Sunday.

He said the ministry would promote the POIC Lahad Datu as an investment destination to support the growth of downstream processing.

“I will be in South Korea at end of this month and will also promote POIC Lahad Datu among South Korean investors,” he said.

Mustapa said three months ago during an investment mission to Europe, the ministry and the Sabah government had also discussed investment potentials in POIC Lahad Datu with the management of the Port of Rotterdam, the Netherlands. – Bernama

Source: The Star

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